ILPT - Industrial Logistics Properties Trust
Price:
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CONSENSUS:
Buy
DETAILS
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PRICE TARGET:
$7.40
DETAILS
HIGH:
$7.40
LOW:
$7.40
MEDIAN:
$7.40
CONSENSUS:
$7.40
DOWNSIDE:
17.32%
AlphaVal
Deterministic, archetype-aware fair value
Real Estate Investment Trust
85% confidence
Primary model: P/FFO × Industrial REIT Multiple
Adjust Assumptions
26.4x
$
Key Value Driver
FFO/share ($1.49) × industrial P/FFO multiple
Implied Market Multiple
6.0x
Plain-Language Summary
Our base-case estimate uses P/FFO × Industrial REIT Multiple. We then blend that result with the average analyst price target of $7.40 from 9 analysts, using a 20% weight on analyst consensus. That produces an estimated intrinsic value of $24.34 per share.
Warnings
Standard profit figures are misleading for real estate companies — large non-cash accounting charges make profits look artificially low. Dividend yield and funds from operations are better measures.
Dividend-based valuation: $3.73 (87% below our primary estimate). Large gaps suggest the dividend may not fully reflect the company's value.
Wall Street's average price target is $7.40 (from 9 analysts). Our estimate is 286% above the consensus -- consider that gap carefully.
Key Risks
- P/E and EV/EBITDA are structurally wrong for REITs — use P/FFO and NAV
- Interest rate sensitivity: REIT multiples compress when rates rise
- FFO approximation (NI + D&A) may include gains on property sales — verify